Milwaukee-based Rockwell Automation today reported fiscal first quarter net income of $198.1 million, or $1.41 per share, up from $161.4 million, or $1.14 per share, in the first quarter of 2013.
The industrial automation company reported quarterly revenue of $1.6 billion, up 7 percent from $1.5 billion in the same period a year ago.
“Sales in the U.S. were robust and I was pleased to see the Asia Pacific region return to growth,” said Keith Nosbusch, chairman and chief executive officer. “Overall organic sales growth of 7 percent and adjusted earnings per share growth of 20 percent provide a strong start to the fiscal year.”
Rockwell raised its full-year guidance to organic sales growth of 3 to 6 percent and adjusted earnings per share of $6 to $6.35.
The company repurchased 1 million shares of common stock for $110.7 million in the fiscal first quarter. As of Dec. 31, $424.4 million of its $1 billion share repurchase authorization was still available.